Nigeria, like other developing countries of the world is paying more attention on how to accelerate the rate of her development through the various sectors of the economy.
Nigeria, like other developing countries of the world is paying more attention on how to accelerate the rate of her development through the various sectors of the economy. Petroleum or crude oil is an oily, bituminous liquid, consisting of a mixture of many substances mainly the elements of carbon and hydrogen, and thus known as hydrocarbon.
It also contains a very small amount of non-hydrocarbon elements, chief amongst which are sulphur, nitrogen and oxygen. The petroleum industry covers the exploration and production of crude oil as well as petroleum refining, marketing and servicing.
Specific policy objective with respect to petroleum and mining can be summed up as follows: Active government participation in mining operations, diversifications of mineral products, the organization and regulation of the development of mineral reserves so as to optimize their contributions to the overall national development effort; the conservation of the countries mineral resources, research into efficient extraction methods and wider application and use of mineral manpower development and accelerated transfer of technology, achievement of internal self sufficiency in the supply and effective distribution of petrol-industry products, commercialization of gas, and the control of the environmental problems of oil production.
Petroleum either as petroldiesel, fuel oillubricant or petrochemical makes Nigeria economic wheel go Pioneer petroleum case cost of capital. Petroleum has transformed poor nations into rich ones, deserts into watersheds and bankrupts nations into creditors.
Specifically, with regards to Nigeria, there is no gain saying that oil sector has undergone tremendous transformation over the years. No other resource in Nigeria has played such a towering role over the national economy as crude oil.
The government of Nigeria has used the revenue derived from oil through tax and royalties to carry out development projects in the country.
This study, therefore, aims to illustrate clearly the impact of the oil industry on economic growth performance in Nigeria. Since its discovery, petroleum has impacted so much on Nigeria economy, these impacts are both positive and negative. Some scholars have advocated for the shifting of emphasis from oil industry to other sectors owing to their belief in the negative fallouts of the oil industry.
Some others opined that the sector should be promoted and developed for its benefits. These opposing views have created the problem of acceptance or otherwise of the oil industry in Nigeria.
All these and many more questions pose contradiction, hence; the need to investigate on this all-important topic. You have to show enough cause why you have decided to go into this research work. In view of the controversy with respect to the relative contribution of the oil sector of the Nigeria sector as compared with the other sectors, it is imperative to establish empirically the relative impact of the oil industry in the Nigeria economy.
By the end of the research the study aims at achieving the following objectives: Based on the objectives of the study, the researcher has formulated the following hypothesis to guide this study: SCOPE This research work is an investigation into the impact of the oil industry on economic growth performance in Nigeria for the period ofspecifically, a period of thirty-one years.
In carrying out this research work, the researcher encountered some difficulties. The first of such constraints or difficulties concerns data. There was the problem of data inconsistency as data collected from different sources on one variable showed some discrepancy.
Also was the reluctance of some librarians to make data available. Apart from the above-mentioned constraints, which are capable of adversely affecting the accuracy of the results of this research work, all other errors and omissions are entirely those of the researcher. He opined that oils in Nigeria, generally occurs at depths below 1, meters.
According to him, it is the raw material around which a chain of commercial activities known as the petroleum industry revolves. Obadan further stressed that petroleum is the raw materials for a wide range of chemicals for the production of pharmaceuticals, fertilizers, fibers, for the manufacture of textiles and numerous other products essential for human existence.
More so, he added that petroleum jelly for the body, candles for lightning and bitumen for tarring roads are some of the many by-products of petroleum. Oil is usually found associated with gas and water in the pore spaces between the grains of sand and make up the oil bearing rock body reservoirit is usually found in areas where thick columns of sedimentary rocks about meters minimum thickness of sands, sand stones, limestone, evaporates and shales of mostly marine origin occur like in the Niger Delta, Anambra and Chad basins.
However, the Bemue trough and Sokoto Basin are also being investigated for oil: SDual purpose kerosene D. KAutomatic Gas Oil A. Oand Aviation Turbine kerosene A. K for the bulk of the petroleum products. The major types of products concerned at depot, according to him are the first three mentioned above.
K is being transported through pipeline from the misimi depot to Murtala Mohamed airport Lagos.Performance Of Economic Growth In Nigeria ( – ) – Impact Of Oil Industry.
Economic Growth In Nigeria – Impact Of Oil Industry. Economy is the . Pioneer Petroleum Case Weighted Average Cost Case Analysis Cost of Capital at Ameritrade Case analysis "Cost of Capital at Ameritrade" Cost of capital refers to the maximum rate of return a company must earn from its investments, so that the market values of .
Taiwan in English. ROME (AP) — Rome's monumental problems of garbage and decay exist side-by-side with the Italian capital's glories, including the leslutinsduphoenix.comated Press . Pioneer Petroleum Case Solution,Pioneer Petroleum Case Analysis, Pioneer Petroleum Case Study Solution, INTRODUCTION Pioneer Petroleum was established in by performing a merger with some of the solely independent companies.
Case Analysis: Pioneer Petroleum Corporation (PPC).1 Submitted by: Joseph Donato N. Pangilinan, FICD Date Presented: April 12, Introduction: This landmark case seeks to break the risk-reward trade off involved in calculating Capital Cost.
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